Legal Question in Business Law in California

Unless you have a buy-sell agreement of some kind, all you can do is negotiate and make a better offer. Without an agreement between them, stockholders generally cannot force another stockhoder to buy from them or to sell to them.

As a Franchise Attorney I agree with the other attorney answer. Having a buy-sell in place is something to be done BEFORE becoming a shareholder is a close corporation. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

Keeping in line with the previous answers, do you have any type of buy-sell or shareholders agreement in place? If not, you probably just need to negotiate a mutually-agreeable sale/purchase. Also, you might want to take a look at the bylaws, to see if they say anything about the matter.